|Banknotes - Currency|
Archives International Auctions / AIA Sale 56 - U.S., Chinese & Worldwide Banknotes, Coins, Scripophily and Security Printing Ephemera - 21/11/2019 / Coins & Paper Money / Paper Money - United States / Lot 836
Kirtland Safety Society Anti-Bank-ing Co. $1 Jan. 4, 1837 OH-245 G2 Wolka 1422-01 Rust 12. - Kirtland, OH., The "Anti-Banking" notes were the first issue of notes from this bank. The reason for the issue was the rejection of the bank's application for a charter from the state banking regulators in Columbus. With the notes already in hand and the bank ready to open, the bank's officials decided not to let such legal niceties restrain their activities, and simply opened for business issuing the newly renamed paper money with the help of tiny rubber stamps. Their handiwork can be seen immediately before and after the word "Bank" in the title at upper right. The titles Cashier and President were also carefully obliterated. By May of 1837 the bank was refusing to redeem its notes for specie, causing the issue to be severely discounted, and by June of 1837 Smith severed his association with the bank. The bank would fail in November 1837. Rare and desirable early Mormon related notes.